Hi, and welcome. 2001 is 10 years old now, and with 20,000 miles, $1500 seems a tad high. Especially if it needs a paint job and a speedometer.
I would offer him no more than $1000.
Just my opinion.
Now 2010 V STAR 950 T
Former bikes were
1982 Yamaha XJ650 Maxim
1977 Harley Iron Head Sportster
1970 Triumph 500 Hard Tail Chopper
4 wheels move the body, 2 wheels move the soul